The comedy film, which will be helmed by Jared Hess and was formerly called 'Loomis Fargo', is based on the true story of one of the biggest heists in American history, which was pulled by four unintelligent Southerners, who had robbed almost 20 million dollars from the armored truck, the Hollywood Reporter reported.

Chris Bowman and Hubbel Palmer rewrote the script for the movie, which was initially written by Emily Spivey, and will have 38-year-old Sudeikis play a hitman.

Lorne Michaels and John Goldwy are producing the project whose production will begin in July 2014 in North Carolina, and is anticipated for a August 2015 release.